How do I complete 8915E to pick up the 2nd year of a distribution?

[JSK]

In 2020, I reported 1099-R distribution, and due to Coronavirus, was able to elect to spread the taxable amount over three years.  Now, in 2021, I need to report the 2nd 1/3 of that amount.  I finally see we have the 8915E.  I'm confused because I also read where ProSeries said 8915E has been replaced by 8915F.  Is that for new distributions in the current year?  In the meantime, I filled out what I thought I had to; no numbers carried over to 8915E.  I picked up the amount that should be taxable this year, but it automatically divided that amount by 3, and then taxed that amount.  I forced the issue by checking the box to not elect to spread it over 3 years.  I know I'm doing something wrong.  Can someone shed some light for me?  Thank you.

[jeffmcpa2010]

Wait for the 8915-F.

[JSK]

Thank you.  I can't believe these forms are not available yet.

[qbteachmt]

"Is that for new distributions in the current year?"

It's a transition event. Consider Disaster Year and Tax Year.

For Disaster Years 2020 and later, and for Tax Filing Years 2021 and later, you use the "Forever" form = 8915-F.

For Disaster Year 2020 and Tax Filing Year 2020, you use Form 8915-E. One year.

[JSK]

Thank you. The distribution was from 2020, and we elected to pick up the income over 3 years.  So the client paid tax on 1/3 of the income in 2020.  We have to pick up another 1/3 in 2021, and the final 1/3 in 2022.  I thought I had to fill out 8915E. It wouldn't let me check the box that it's from Corona virus. Instructions for this form in ProSeries seems to be nonexistent. 

[qbteachmt · Accepted solution]

"I thought I had to fill out 8915E"

You are working on tax filing for 2021. The form you are waiting on is -F.

You used 8915-E when you filed 2020. You would use it again if you amend 2020. Otherwise, you no longer use -E.

[JSK]

Thank you.  I will wait for the 8915F to come out.

[Millie2192]

I have the same question about the 8915-e it is very confused, can proseries let me know when the form will be available?

Thanks,

MR

[qbteachmt]

"about the 8915-e it is very confused, can proseries let me know when the form will be available?"

You are not waiting for Form 8915-E. You are waiting for Form 8915-F. F = Forever.

It's a transition event. Consider Disaster Year and Tax Year.

For Disaster Years 2020 and later, and for Tax Filing Years 2021 and later, you use the "Forever" form = 8915-F.

For Disaster Year 2020 and Tax Filing Year 2020, you use Form 8915-E. One year.

Your program and the web page for Form Availability show March 24.

[Deutchlady]

After dinking around for some time, I believe I found the answer to getting the software to do what we need it to do.  I opened up form 8915-E, scrolled down to "2020 Form 8915-E Distributions Smart Worksheet" and entered in A - Total 2020 qualified disaster distribution the total (had to ignore the 'other than" stuff... sooo confusing!!!)  AND checked B - Coronavirus-related distributions reported in 2020.

This did succeed in flowing the 1/3 of the total to lines 12, 13, and 15 of 8915-F and subsequently to the 1040 worksheet and onto 1040 5b Pensions and annuities Taxable amount.

Diane